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Who should get a tax break to help the economy more?

independentusa

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Supply side people say give the tax breaks to the wealthy and they will create jobs and improve the economy more. Demand side say give tax breaks to the middle class and the poor and their increased demand for goods will create jobs and that will improve the economy more. Supply side is what some call the trickle down theory and it has been tried several times by GOP controlled government. Demand side has not been tried in several decades. This is not a detailed explanation, but should give you and idea of the warring ideas concerning tax breaks between the GOP and the Dems. So which of the two theories works the best for our economy?
 

trouble13

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Supply side people say give the tax breaks to the wealthy and they will create jobs and improve the economy more. Demand side say give tax breaks to the middle class and the poor and their increased demand for goods will create jobs and that will improve the economy more. Supply side is what some call the trickle down theory and it has been tried several times by GOP controlled government. Demand side has not been tried in several decades. This is not a detailed explanation, but should give you and idea of the warring ideas concerning tax breaks between the GOP and the Dems. So which of the two theories works the best for our economy?
How do you figure it hasnt been tried? Half the country pays 0% of the taxes and the top 10% pay 90% of the taxes. How isnt that demand side economics as you described it?

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JoanDavis

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How do you figure it hasnt been tried? Half the country pays 0% of the taxes and the top 10% pay 90% of the taxes. How isnt that demand side economics as you described it?

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The top 10% pay the LEAST taxes. Have you ever heard of offshore tax havens? Thousands of millionaires and billionaires in America pay ZERO tax. These greedy people DO NOT need or deserve tax cuts. They get tax cuts because the republicans still believe in that BS that trickle down economics creates jobs and strengthen the economy.
 

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jdog21

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Supply side people say give the tax breaks to the wealthy and they will create jobs and improve the economy more. Demand side say give tax breaks to the middle class and the poor and their increased demand for goods will create jobs and that will improve the economy more. Supply side is what some call the trickle down theory and it has been tried several times by GOP controlled government. Demand side has not been tried in several decades. This is not a detailed explanation, but should give you and idea of the warring ideas concerning tax breaks between the GOP and the Dems. So which of the two theories works the best for our economy?

Although I would like my taxes to be cut, the poor getting more tax breaks would have much of an impact of the economy because they already do not pay much in the ways of income tax. I believe the best way to bring in more income revenue in the form of taxes while also being fair would be to remove write offs from your taxes. No deductions. All income is taxable. Then the rich and the higher upper middle classes would pay more in taxes while the poor and lower middle classes wouldn't. Then with the increased revenues they can simultaneously cut taxes across the board equally.
 

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Supply side people say give the tax breaks to the wealthy and they will create jobs and improve the economy more. Demand side say give tax breaks to the middle class and the poor and their increased demand for goods will create jobs and that will improve the economy more. Supply side is what some call the trickle down theory and it has been tried several times by GOP controlled government. Demand side has not been tried in several decades. This is not a detailed explanation, but should give you and idea of the warring ideas concerning tax breaks between the GOP and the Dems. So which of the two theories works the best for our economy?

Trump has shown that giving BOTH sides tax cuts works best for our economy.

I agree with him.

(Now...if only Congress would realize that reducing government spending is the best thing THEY can do...)
 

independentusa

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Although I would like my taxes to be cut, the poor getting more tax breaks would have much of an impact of the economy because they already do not pay much in the ways of income tax. I believe the best way to bring in more income revenue in the form of taxes while also being fair would be to remove write offs from your taxes. No deductions. All income is taxable. Then the rich and the higher upper middle classes would pay more in taxes while the poor and lower middle classes wouldn't. Then with the increased revenues they can simultaneously cut taxes across the board equally.

Actually you are wrong. The poor may pay more of their income in taxes than do many wealthy people. The problem you and others have is you only look at one tax, the Federal Income tax. You forget things like FICA and Medicare taxes. State income and property taxes, which many pay through their rents. Sales taxes which eat up a lot of the poor's incomes. And then there are the fees and licenses, like driver's licenses. The poor often pay a greater percentage of their income in taxes with all of the taxes, fees and licenses than do the wealthy. Of course you don't want to mention those other pesky taxes, which they all are, since they ruin your argument.
 

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Trump has shown that giving BOTH sides tax cuts works best for our economy.

I agree with him.

(Now...if only Congress would realize that reducing government spending is the best thing THEY can do...)

I mean. How do you talk to someone who thinks this is what has happened.
 

independentusa

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Trump has shown that giving BOTH sides tax cuts works best for our economy.

I agree with him.

(Now...if only Congress would realize that reducing government spending is the best thing THEY can do...)

What is it, over 83 percent of the trump tax cut went to the top 10%. Yeah, a real bargain for the middle class ans the poor.!!!!!!! And as far as the poor and taxes, read my #7
 

iguanaman

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How do you figure it hasnt been tried? Half the country pays 0% of the taxes and the top 10% pay 90% of the taxes. How isnt that demand side economics as you described it?

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You mean half the country can't afford to pay income tax because their wages have been stagnant for over 35 years while their bosses have been pocketing all the increased profits with increasingly lower taxation. That is how "supply side" has worked out. It's time to reverse course. We need to tax the CEO's incomes enough that they will share the wealth again or pay the Govt. thru the nose.
 

apdst

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Supply side people say give the tax breaks to the wealthy and they will create jobs and improve the economy more. Demand side say give tax breaks to the middle class and the poor and their increased demand for goods will create jobs and that will improve the economy more. Supply side is what some call the trickle down theory and it has been tried several times by GOP controlled government. Demand side has not been tried in several decades. This is not a detailed explanation, but should give you and idea of the warring ideas concerning tax breaks between the GOP and the Dems. So which of the two theories works the best for our economy?

Everybody should get a tax break. It's that whole "equality under the law" thing.
 

Helix

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i'd vote for demand side, but only if we reverse some of the supply side policy. we literally cannot afford an additional tax cut for anyone without raising taxes significantly on some other entity.
 

trouble13

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You mean half the country can't afford to pay income tax because their wages have been stagnant for over 35 years while their bosses have been pocketing all the increased profits with increasingly lower taxation. That is how "supply side" has worked out. It's time to reverse course. We need to tax the CEO's incomes enough that they will share the wealth again or pay the Govt. thru the nose.
Demand side stimulus has been and is being used. Nothing you said disputes that.

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jdog21

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Actually you are wrong. The poor may pay more of their income in taxes than do many wealthy people. The problem you and others have is you only look at one tax, the Federal Income tax. You forget things like FICA and Medicare taxes. State income and property taxes, which many pay through their rents. Sales taxes which eat up a lot of the poor's incomes. And then there are the fees and licenses, like driver's licenses. The poor often pay a greater percentage of their income in taxes with all of the taxes, fees and licenses than do the wealthy. Of course you don't want to mention those other pesky taxes, which they all are, since they ruin your argument.

First off property taxes are not paid by renters.
Secondly my response was strictly to Federal income tax, since state income tax, property tax, sales tax, state disability tax are all issued and adjust by each individual state there is nothing the federal government can do about that.
Thridly social security tax and medicare taxes are not something that most people are looking to cut at all.

So since we are talking about federal income tax only and what economic class would should we give a tax break to, my answer was that the poor receiving a income tax break would not benefit the economy as a whole as much and the increase in jobs and business output would be to the economy which is what a tax break to the upper classes would, its just not very palatable but the math is sound. I think we should instead make a small cut to all income levels evenly and remove all tax breaks and deductions. This would cause the poor to get a small relief and the rich to get some relief while at the same time actually removing a lot of ways they hide their money causing them to have to pay more tax.
 

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Supply side people say give the tax breaks to the wealthy and they will create jobs and improve the economy more.
No, they don't. They say cuts for everyone - and they delivered on that.

independentusa said:
Demand side say give tax breaks to the middle class and the poor and their increased demand for goods will create jobs and that will improve the economy more.
Which has never happened.

independentusa said:
Supply side is what some call the trickle down theory and it has been tried several times by GOP controlled government
Actually nobody but LWers have used that term in decades.

independentusa said:
Demand side has not been tried in several decades.
LOL, except always.

independentus said:
This is not a detailed explanation, but should give you and idea of the warring ideas concerning tax breaks between the GOP and the Dems. So which of the two theories works the best for our economy?
Actually, it's so full of misinformation and nonsense no rational being should even read it.
 
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